Global Pharmerging Market Size By Type (Pharmaceutical, Other Healthcare Verticals), By Geographic Scope And Forecast
Report ID: 273948|No. of Pages: 202
Global Pharmerging Market Size By Type (Pharmaceutical, Other Healthcare Verticals), By Geographic Scope And Forecast
Pharmerging Market Size And Forecast
Pharmerging Market has been expanding at a quicker rate with considerable growth rates in recent years, and it is expected to increase considerably in the anticipated period, i.e. 2022 to 2030.
The global pharmaceutical market is growing rapidly, particularly in rising economies throughout the world. The rising frequency of non-communicable illnesses, the aging population, rising life expectancy, rising income, rising government healthcare spending, free trade agreements, and continual research and development are some of the important reasons driving this market’s growth. The Global Pharmerging Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Pharmerging Market Definition
Pharmerging is a term used to describe a group of nations with a poor position in the pharmaceutical sector but rapid expansion. China, India, Brazil, Russia, South Africa, Mexico, Indonesia, Turkey, and others are some of the most important pharmerging markets. Pharmerging markets are defined as nations with a per capita GDP of USD 25,000 and a spending growth rate of more than USD one billion. As a result, the pharmerging markets contain 21 nations that are further divided into Tier I, Tier II, and Tier III countries based on IMS established metrics, macroeconomic considerations, and pharmaceutical market estimates. Because of the larger Chinese government’s healthcare spending, Tier I nations, including China, dominated the global pharmerging industry. Tier II nations, such as India, Brazil, and Russia, are expected to develop considerably due to fast-growing elderly populations, increased consumer awareness, favorable government policies, and upgrading of healthcare infrastructure.
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Global Pharmerging Market Overview
The aging population is having a diverse impact on this business in different areas of the world. One in every sixth person will be above the age of 60 by 2030, according to estimates. By 2050, China’s senior population is predicted to reach 330 million, while India’s geriatric population will surpass 277 million. Dementia, hypertension, and heart failure are the most frequent diseases among the elderly. These illnesses need long-term therapy. Owing to the growing senior population, there is also a higher need for home healthcare and second care. In nations like India, China, and Brazil, there has been an increase in these facilities. These facilities may be privately funded or government-sponsored. Tier I and Tier II governments have also boosted healthcare spending and are creating supporting measures to lower the cost of chronic illness treatment.
However, the pharmerging markets are highly fragmented due to the existence of various small and major providers. Most multinational pharmaceutical firms confront challenges such as pricing pressure, regulatory limits, and competition from local and other international pharmaceutical corporations.
Nevertheless, the implementation of government regulations and reimbursement systems in many countries to reduce the cost of chronic illness treatment is fueling market expansion. Furthermore, the rising number of insurance companies in pharmerging nations offering a variety of insurance coverage to reduce out-of-pocket expenses is driving up pharmaceutical demand in these countries. In addition, increased investments in comprehensive R&D activities in biotechnology, immunology, cancer, and other sectors for the development of improved medicines are fueling market expansion.
Global Pharmerging Market: Segmentation Analysis
The Global Pharmerging Market is segmented based on Type and Geography.
Pharmerging Market, By Type
• Pharmaceutical
• Other Healthcare Verticals
Pharmaceuticals and other healthcare products are among the product sectors examined by the pharmerging countries. Patented prescription pharmaceuticals, generic prescription drugs, and over-the-counter (OTC) drugs are all part of the pharmaceutical market. In the healthcare industry in pharmerging nations, pharmaceutical segments account for the bulk of the market share. The pharmaceutical industry’s expansion is likely to be fueled by the generic prescription medicine segment. The generic prescription medicine industry is predicted to grow due to price sensitivity in these nations and rising out-of-pocket healthcare spending.
Pharmerging Market, By Geography
• North America
• Europe
• Asia Pacific
• Rest of the World
The global pharmerging market is divided over Latin America, the Middle East and Africa, Asia Pacific, North America, and Europe in terms of geography. Due to increased population, fast urbanisation, increasing patent expiration, and an increase in medical research spending, Asia Pacific dominates the market. In Asia Pacific, China has emerged as the most important domestic market for pharmaceuticals.
Key Players
The study report “Global Pharmerging Market” will give useful information with a focus on the global market. The major players in the market are Abbott Laboratories, AstraZeneca, F. Hoffmann-La Roche Ltd., GlaxoSmithKline Plc., Huadong Medicine Co. Ltd., Johnson & Johnson, Koninklijke Philips N.V., LUPIN, Merck & Co. Inc., Novartis AG, Sun Pharmaceutical Industries Ltd., and Teva Pharmaceutical Industries Ltd. amongst other are a few major companies operating in the pharmerging market. A global assessment of the above-mentioned rivals’ primary development strategies, market share, and market position is also included in the competitive landscape section.
Key Developments
• In April 2019, JW Pharmaceutical acquired a Vietnamese drug company, Euvipharm, intending to penetrate “pharmerging” markets such as ASEAN countries with products from Euvipharm. About 50 medications, including powder injections, pills, capsules, and eye drops, were developed by the company, all of which could be manufactured by Euvipharm instantly. The company also planned to pump up production facilities to increase production size.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2018-2030 |
| BASE YEAR | 2021 |
| FORECAST PERIOD | 2022-2030 |
| HISTORICAL PERIOD | 2018-2020 |
| KEY COMPANIES PROFILED | Abbott Laboratories, AstraZeneca, F. Hoffmann-La Roche Ltd., GlaxoSmithKline Plc., Huadong Medicine Co. Ltd., Johnson & Johnson, & Others |
| SEGMENTS COVERED | Type and Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
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Data Collection Matrix
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Industry Analysis Matrix
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